Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0032%/8hpaid last 24h +0.010%

Price spread now: Variational Omni against Lighter RH−0.284%7-day average −0.020% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 3 days (all we have)+0.255%+$26 · spread now −0.284%, 7d avg −0.020%

Together, before fees+0.244%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.264% cheaper against Lighter RH than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	751.69	0.0032	pay 0.0004% / 1h	23m 02s	$742K	$3.2M	20x
Short	Variational Omni META	749.56	0	get 0.0000% / 8h	4h 23m	$1.6M	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter RH. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Lighter RHbpFee Variational OmnibpOrdersPrice spread, now −0.284%Rate

Funding earned: −$6.72
Price spread: −0.284% → −0.020%: −$26.38
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$33.1
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 5 min ago; Variational Omni: RFQ quote, just now. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter RH live order book, 5 min ago	2.47 bp	2.5 bp −$2	6.0 bp −$60	38.0 bp −$3,799	doesn't fit
Sell Variational Omni RFQ quote, just now	2.45 bp	doesn't fit	16.7 bp −$167	doesn't fit	doesn't fit

META on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff META-PERP	−0.0144%	1h	752.11	+0.056%	$34K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	751.70	+0.001%	$337K	$1.1M	20x	as long as short
Phoenix META	−0.0021%	1h	746.59	−0.678%	$315K	$622K	20x	as long as short
Nado META-PERP	−0.0006%	1h	750.96	−0.097%	$403K	$227K	20x	as long as short
Aster METAUSDT	0.0000%	8h	751.87	+0.024%	$462K	$449K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	751.16	−0.071%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	751.43	−0.034%	$28.2M	$163.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	751.60	−0.012%	$8.1M	$12.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	751.41	−0.037%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	750.86	−0.110%	$338K	$5.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METAUSDT	0.0000%	8h	751.30	−0.052%	$6.0M	$9.7M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	749.56	−0.284%	$1.6M	$2.3M	—
GRVT META_USDT_Perp	0.0000%	8h	750.02	−0.223%	$13K	$528K	10x	as long as short
SunX META-USDT	0.0000%	8h	751.51	−0.024%	$554	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	750.99	−0.093%	$107K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	752.05	+0.048%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	751.90	+0.028%	$2.3M	$13.4M	10x	as long as short
Lighter META	+0.0032%	1h	751.50	−0.025%	$877K	$2.5M	20x	as long as short
Lighter RH METAlong	+0.0032%	1h	751.69	long leg	$742K	$3.2M	20x
Vest META-USD-PERP	+0.0046%	1h	752.00	+0.041%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	752.31	+0.082%	$176K	$194K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0048%	1h	752.09	+0.053%	$640K	$6.8M	10x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	751.29	−0.053%	$72.1M	$111.2M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	751.64	−0.007%	$547K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	751.28	−0.055%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	751.90	+0.028%	$689K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	752.05	+0.048%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0056%	1h	750.99	−0.093%	$28K	$259K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	751.21	−0.064%	$1.6M	$300K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	749.92	−0.235%	$168K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	751.11	−0.077%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	751.21	−0.064%	$270	—	10x	as long as short
Arcus META-USD	+0.0128%	1h	751.02	−0.089%	$267K	$311K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	752.38	+0.092%	$171K	$43K	30x	as long as short
Aftermath Perps METAUSD	+0.0332%	1h	749.70	−0.265%	$42K	$49K	10x	as long as short
edgeX METAUSDC	+0.0728%	4h	749.99	−0.227%	$63K	$328K	10x	as long as short